Section 1221 specifically states that inventory or property held primarily for sale to customers is not classified as a capital asset of the trade or business.

Name: Section 1221 specifically states that inventory or property held primarily for sale to customers is not classified as a capital asset of the trade or business.
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Section 1221 of the Internal Revenue Code states that inventory or property held primarily for sale to customers is not considered a capital asset.

Section 1221 Specifically States That Inventory or Property Held Primarily